As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers.
St. Catharines, Ontario–based Algoma Central Corporation (TSX: ALC) reported a solid third quarter for 2025, marked by fleet milestones, steady revenue growth across segments, and ongoing investment in next-generation vessels.For the quarter ended September 30, Algoma posted revenue of C$228 million, up from C$205 million a year earlier, and EBITDA of C$89.7 million, a 19% increase year-over-year.
Most Gulf bourses ended higher on Tuesday as diplomatic efforts to de-escalate the Middle East conflict gathered pace, a day after Saudi, Turkish and Pakistani officials held talks in Tehran. It was the first high-level contact between Iran and the three allies, who signed a mutual defence pact in August, since the US-Israeli strikes on Iran triggered a war that spread to Saudi Arabia and Yemen.
Oil prices fell $2 a barrel on Monday amid hopes of easing hostilities between the United States and Iran, but persistent attacks on key producer Saudi Arabia kept investors wary and prices near six-month highs.Brent crude futures were down $2.03, or 1.7%, at $114.70 at 10:37 a.m. ET (1437 GMT), while US West Texas Intermediate crude futures were down $2.60, or 2.5%, at $100.71 per barrel.
Shipping bottlenecks, deep cuts in refinery output and inventory draws that could take years to replace will keep global oil prices high beyond this year, industry executives said at a conference in London on Monday.Following the start of the US-Israeli war on Iran at the end of February, Iran effectively closed the Strait of Hormuz
The UK's FTSE 100 rose on Monday, steadying after its steepest drop since April last week, as prospects of higher crude supplies kept prices in check.The blue-chip FTSE 100 index closed 0.34% higher at 10,497.94 points. The midcap FTSE 250 dipped 0.29% to 24,123.75 points.Brent crude futures LCOc1dipped 0.44% to $101.
Euro zone bond yields fell for a second straight day on Tuesday, hitting their lowest in almost two weeks after Iran raised the prospect of reopening the Strait of Hormuz and Washington hinted it could restart talks with Tehran, pushing oil prices lower.Germany's 10-year bond yield, the benchmark for the bloc, fell 1 basis point to 3.44% after rising as much as 4 bps earlier in the session.
U.S. import prices surged in April, with the cost of fuels posting the largest increase in four years, another indication that the U.S.-backed war with Iran was boosting inflation.Import prices increased 1.9% last month after an upwardly revised 0.9% rise in March, the Labor Department's Bureau of Labor Statistics said on Thursday.
Marine fuel sales at the world's largest bunker hub of Singapore posted a strong start to 2026, driven by healthy demand and higher price premiums, based on port data and trade sources.January 2026 volumes totalled 5.23 million metric tons, up 16.5% year-on-year (YoY), though easing from the record monthly highs of 5.
Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors also weighed efforts to resume oil exports from Venezuela.Brent crude futures lost 28 cents, or 0.44%, to $63.06 a barrel by 1402 GMT while U.S. West Texas Intermediate crude was at $58.
Oil prices dipped on their first trading day of 2026 after registering their biggest annual loss since 2020 as investors weighed oversupply concerns against geopolitical risks, including the war in Ukraine and Venezuela exports.Brent crude futures lost 55 cents to $60.29 a barrel by 11:16 a.m. ET (1616 GMT) on Friday while U.S. West Texas Intermediate crude was down 53 cents at $56.89.
South Carolina Ports recorded 206,859 TEUs at its marine terminals in October, a 1% year-over-year dip, as fiscal year volumes remain above plan. October marked the Port's strongest month for loaded exports since June, with an 18% year-over-year increase.The predicted slowdown mirrors national trends as containerized imports in the U.S. saw a 7.